The Short Run Is a Time Period Such That

question 161

Multiple Choice

The short run is a time period such that:

• A) the existing firms in the industry do not have sufficient time to adjust the quantity of any inputs which they employ.
• B) the existing firms in the industry do not have sufficient time to adjust their current rate of output.
• C) new entrants have sufficient time to build factories and enter the industry.
• D) the existing firms in the market do not have sufficient time to increase the size of their existing plants or build new factories.